Singapore private club 1880 abruptly shuts down as financial troubles mount

Singapore private club 1880 has permanently shut down and is entering liquidation. 

In an email announcement sent to members posted on LinkedIn by Singaporean entrepreneur Chris Reed, the club said that it will cease all operations immediately as of 17 June and that the holding company 38 Degrees and the operating company 1880 Pte Ltd have been placed into provisional liquidation. 

Details about the liquidation process and the creditors meeting will be forthcoming, it added. 

Don't miss: 1880 ceases HK operation after 7 months amid cash flow issues

The email also informed members not to come to the premises as the doors will be locked. 

Meanwhile, CNA reported that member spend and visit frequency had been “trending down” and that the company needed fresh capital and greater efficiency. The club reportedly had three potential investors or buyers, but none of the deals materialised.

With no funds left to pay staff or suppliers, 1880 said it had no choice but to close. The email also alluded to expansion efforts as contributing to the collapse.

The closure came abruptly, with no public notice on 1880’s social media channels. Checks by MARKETING-INTERACTIVE revealed that the club was still promoting events for the week, including a ‘Bao Tuesday’ happening today (17 June). 

The news follows the shuttering of 1880’s Hong Kong outpost on 30 May. 1880 Hong Kong entered liquidation with debts of about HK$20 million (US$2.5 million), including unpaid rent and two months’ salaries for 100 employees.

MARKETING-INTERACTIVE has reached out to 1880 for a statement. 

The club was opened in 2017 by Marc Nicholson, becoming a co-working space, restaurant, bar and spa for members. It also offered social events such as drag bingo and trivia nights amongst many others.

In the past, the club has hosted speakers such as foreign minister George Yeo, veteran diplomats Kishore Mahbubani and Bilahari Kausikan, Love Aid SG founder Gilbert Goh and entrepreneur Bryan Johnson. 

Photo courtesy of Chris Reed, LinkedIn.

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